I don't know about Tirol, but in Banff, the restrictions don't prevent construction of multi-unit buildings specifically for renters. I don't know exactly how ownership of these buildings work, but I think they're owned by the town through some non-profit org.

I don't live in Banff and I'm sure there are issues with this system, but it seems pretty reasonable. Service workers would definitely be priced out if every condo/apartment was owned privately and available as a short-term rental.